It was reported yesterday that the Democratic Republic of Congo (the “DRC”) will temporarily restrict cobalt exports for an initial period of 4 months. This will be reviewed in 3 months time, at the end of which a new decision may, if necessary, modify or terminate this temporary suspension measure.

CMOC is in close communication with the DRC government and industry regulators to understand these restrictions and the execution of the same.

As a responsible mining company, CMOC strictly complies with local laws, regulations and operates with the highest ESG standards as evidenced by our AA MSCI rating. The company’s cobalt products are both high quality and traceable which aligns with the policy aims of the DRC in regulating cobalt industry development.

CMOC believes that a stable healthy market environment is a shared wish of all stakeholders and is beneficial to the long-term sustainable development of the cobalt value chain and healthy long term cobalt demand growth.

Production and operations at both TFM and KFM of the Company continue as normal. We continue to service our customers demand requirements from our cobalt pipeline and will do so for as long as possible. It is our intention to ensure critical demand sectors and customers are impacted as little as possible.

The Company does not anticipate a significant impact on business performance by such temporary measures.